Postal Service Reports $5.2 Billion Loss

The loss was attributed to retiree health benefits costs and a continued decline in mail volume. 

Mail volume fell last quarter by 3.6% while shipping services and package volume rose 5.2%

On Aug. 1 the Postal Service defaulted on $5.5 billion in prefunding payments for retiree benefits and has said it will likely default on a second payment of $5.6 billion due Sept. 30.